Kentucky Retirement Systems Sells 161 Shares of Northern Trust Co. (NASDAQ:NTRS)

Kentucky Retirement Systems cut its holdings in Northern Trust Co. (NASDAQ:NTRS) by 1.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,417 shares of the asset manager’s stock after selling 161 shares during the period. Kentucky Retirement Systems’ holdings in Northern Trust were worth $1,295,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Bayesian Capital Management LP grew its holdings in shares of Northern Trust by 986.3% in the fourth quarter. Bayesian Capital Management LP now owns 37,900 shares of the asset manager’s stock valued at $3,198,000 after acquiring an additional 34,411 shares in the last quarter. CANADA LIFE ASSURANCE Co grew its holdings in shares of Northern Trust by 6.8% in the first quarter. CANADA LIFE ASSURANCE Co now owns 360,640 shares of the asset manager’s stock valued at $32,111,000 after acquiring an additional 23,020 shares in the last quarter. Sequoia Financial Advisors LLC lifted its stake in Northern Trust by 557.8% in the first quarter. Sequoia Financial Advisors LLC now owns 30,813 shares of the asset manager’s stock valued at $2,740,000 after purchasing an additional 26,129 shares during the last quarter. Bessemer Group Inc. lifted its stake in Northern Trust by 668.0% in the first quarter. Bessemer Group Inc. now owns 20,205 shares of the asset manager’s stock valued at $1,797,000 after purchasing an additional 17,574 shares during the last quarter. Finally, AIA Group Ltd lifted its stake in Northern Trust by 4.3% in the first quarter. AIA Group Ltd now owns 602,785 shares of the asset manager’s stock valued at $53,600,000 after purchasing an additional 24,791 shares during the last quarter. 83.19% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director Charles A. Tribbett sold 1,855 shares of the stock in a transaction on Friday, September 13th. The stock was sold at an average price of $88.12, for a total value of $163,462.60. Following the transaction, the director now owns 1,000 shares of the company’s stock, valued at $88,120. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, Director Charles A. Tribbett sold 1,855 shares of the stock in a transaction on Friday, September 13th. The stock was sold at an average price of $88.12, for a total value of $163,462.60. Following the transaction, the director now owns 1,000 shares of the company’s stock, valued at $88,120. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Teresa Parker sold 5,883 shares of the stock in a transaction on Friday, August 9th. The shares were sold at an average price of $84.06, for a total value of $494,524.98. Following the completion of the transaction, the executive vice president now directly owns 83,765 shares in the company, valued at approximately $7,041,285.90. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 13,738 shares of company stock worth $1,191,388. Corporate insiders own 0.64% of the company’s stock.

Wall Street Analyst Weigh In

NTRS has been the topic of several research analyst reports. Morgan Stanley dropped their price objective on Northern Trust from $97.00 to $93.00 and set an “underweight” rating on the stock in a research note on Tuesday, July 30th. Keefe, Bruyette & Woods dropped their price objective on Northern Trust from $92.00 to $85.00 and set a “market perform” rating on the stock in a research note on Thursday, June 27th. Deutsche Bank Aktiengesellschaft dropped their price objective on Northern Trust from $85.00 to $84.00 and set a “hold” rating on the stock in a research note on Thursday, August 15th. The Goldman Sachs Group dropped their price objective on Northern Trust from $94.00 to $84.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 2nd. Finally, Royal Bank of Canada upped their price objective on Northern Trust from $86.00 to $90.00 and gave the company an “outperform” rating in a research note on Thursday, July 18th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $88.75.

Northern Trust Trading Down 0.8 %

Shares of NTRS stock opened at $91.90 on Friday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.71 and a current ratio of 0.71. Northern Trust Co. has a 52-week low of $62.44 and a 52-week high of $92.82. The company has a market capitalization of $18.80 billion, a PE ratio of 20.29, a price-to-earnings-growth ratio of 1.46 and a beta of 1.08. The business’s fifty day moving average is $87.59 and its 200 day moving average is $85.27.

Northern Trust (NASDAQ:NTRS) last issued its quarterly earnings data on Wednesday, July 17th. The asset manager reported $1.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.75 by $0.03. Northern Trust had a return on equity of 12.24% and a net margin of 10.53%. The company had revenue of $2.72 billion for the quarter, compared to the consensus estimate of $1.84 billion. During the same quarter last year, the business posted $1.79 earnings per share. The firm’s revenue was up 53.8% compared to the same quarter last year. On average, equities research analysts anticipate that Northern Trust Co. will post 7.01 EPS for the current fiscal year.

Northern Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 6th will be given a $0.75 dividend. The ex-dividend date is Friday, September 6th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.26%. Northern Trust’s dividend payout ratio (DPR) is presently 66.23%.

Northern Trust Company Profile

Northern Trust Corporation, a financial holding company, provides wealth management, asset servicing, asset management, and banking solutions for corporations, institutions, families, and individuals worldwide. It operates in two segments, Asset Servicing and Wealth Management. The Asset Servicing segment offers asset servicing and related services, including custody, fund administration, investment operations outsourcing, investment management, investment risk and analytical services, employee benefit services, securities lending, foreign exchange, treasury management, brokerage services, transition management services, banking, and cash management services.